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Advent of Technologically Advanced Cranes to Bolster Global Marine Cranes Market

Press Release   •   Jun 08, 2017 05:46 EDT

 A new market research report has been added recently by MarketResearchReports.biz to its enormous collection of research studies. The 70-page research study, titled “Global Marine Crane Market 2017-2021,” offers a thorough overview of the market, highlighting the major aspects that are estimated to influence the development throughout the forecast period. In addition to this, the key segments, primary applications, technological advancements, and the current trends in the global marine crane market have been discussed at length to offer a clear understanding for market players and readers.

As per the research report, the global market for marine cranes is anticipated to exhibit a 5.0% CAGR between 2017 and 2021. The rising emphasis of the leading players on innovations and development of new products is anticipated to encourage the growth of the global marine crane market in the near future. Moreover, the emergence of modern cranes and the rising demand for knuckle boom cranes are projected to accelerate the growth of the market in the coming years.

On the basis of design type, the global marine crane market has been classified into telescopic cranes, knuckle boom, and lattice boom. In the last few years, the knuckle boom segment held a major share of the global market and is likely to retain its leading position throughout the forecast period. Although there has been a significant curb in the production of oil and gas, which has impacted the overall growth of the knuckle boom segment. However, the demand for oil and petroleum products is expected to remain sturdy, along with a substantial rise in the investments in the oil and gas industry, which is likely to supplement the growth of the segment throughout the forecast period.

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Among the key regional segments, Asia Pacific is anticipated to experience a high level of growth in the next few years. The robust growth of this segment can be attributed to the rising investments in countries, including Malaysia and India. In addition to this, a substantial rise in the population and the high rate of urbanization are expected to boost the demand for seaborne traffic, resulting in a significant growth of the marine crane market in Asia Pacific over the next few years. Furthermore, the presence of several public and private players is anticipated to accelerate the growth of this region in the near future.

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The global marine crane market is considered to be highly competitive and fragmented in nature. To enhance their market presence, the leading players are focusing on innovations and technological advancements. The prominent players operating in the marine crane market across the globe include Effer, Palfinger, Heila Cranes, DMW Marine Group, and Liebherr. Some of the other key players mentioned in the research report are Seatrax, Motus, North Pacific Crane Company, James Fisher and Sons, Huisman Equipment, Cargotec, Konecranes, Allied Marine Crane, EK Marine, Appleton Marine, and Rapp Marine.

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